”Nikru biex Nassistu” (Rent & Aid) Property Scheme
The introduction of a new property restoration grant has been issued by the Malta Housing Authority, with scheme involving the restoration of unused and abandoned buildings. Housing Parliamentary Secretary Roderick Galdes spoke about how this scheme will encourage property owners, that own such properties, to work on their restoration. The grant will cover property works including; structural works, repairs of plumbing, electrical repairs, bathroom installations, and also facade works too. These works must be completed within 12 months of having received this grant for restoration works. It is was said however, that properties which costs exceed the grant limit would not be well-suited for this scheme.
Housing Parliamentary Secretary Roderick Galdes said how the scheme is aimed to attract as many applicants as possible, with the funds being made available being considerably higher than any other restoration schemes previously introduced.
The Property Restoration Grant
The scheme will allow for a grant of up to €25,000 to be given in order for vacant properties to be restored and fixed up for them to be put to use as Social Housing. Glades stated how this scheme will not only benefit the property owner who will be receiving funds to renovate and also having a secured rental income, but also will also help work towards increasing the number of Social Housing available to those who need it. The Malta Housing Authority also pays rent 6 months in advance, putting owner’s minds at rest and giving them every incentive to participate in this scheme.
For specifics about this scheme please have a look at the Malta Housing Authority’s Official Scheme Outline. You can also have a look at the Application Form in order to get an idea of what the application process entails. More information on schemes, and their relevant application forms are easily accessible directly from the Housing Authority Website here.